B Sairam, CMD, Coal India
State-run coal major Coal India, which aims to become a 5 GW solar power company by 2030, currently has around 524 MW of solar projects under execution as part of its diversification drive.
On the solar front, CIL’s installed capacity increased to around 357 MW by FY26-end, which includes a 100 MW solar project in Gujarat’s Patan.
“We aspire to become a 5 GW solar power company by 2030,” Coal India Chairman and Managing Director B Sairam told businessline.
Changing dynamics
By stepping into non-coal sectors such as solar and critical minerals, the world’s largest coal miner has commenced its future preparedness. The company is gradually adapting to the changing energy dynamics in India.
“Among major solar projects actively under radar are a 300 MW project in Khavda in Gujarat and a JV in Uttar Pradesh for 500 MW. We have also emerged as the successful bidder for a 600 MW solar project in UP’s Jalaun,” Sairam said.
Coal India is also actively participating on a pan-India basis in renewable energy (RE) tenders under tariff-based competitive bidding routes to secure additional capacities and expand its RE portfolio. The company was awarded a 187.5 MW / 750 MWh Battery Energy Storage System (BESS) project at Choutuppal, Telangana, and 80 MW / 320 MWh BESS project in Odisha.
Four blocks
In the critical minerals space, CIL has so far secured four blocks — two critical minerals and two rare earth elements.
“The most advanced project is the Oranga-Revatipur block in Chhattisgarh of graphite and vanadium. Due diligence has already been completed, and the LOA (letter of intent) has been issued. We expect mining activity to start within three to four years,” the Chairman said, adding that it will effectively be Coal India’s first mining activity outside coal and that too in critical minerals.
The coal miner is setting up a subsidiary in Singapore, which is expected to come up by this fiscal-end. “It will focus mainly on collaborations in Australia, including coking coal, copper, critical minerals and rare earth opportunities. It will handle the full value chain including mining, processing, beneficiation, logistics, market identification, partnerships, licensing and regulatory aspects,” Sairam added.
With power utility Damodar Valley Corporation (DVC), CIL is developing a 1,600 MW ultra-supercritical brownfield thermal power project at Jharkhand’s Chandrapura at an estimated investment of around ₹20,000 crore, in a 50:50 joint-venture mode. The expected post-equity IRR (internal rate of return) is around 15.5 per cent, and commissioning is presently targeted around FY31.
Published on May 28, 2026
Source link
#Diversification #drive #Coal #India #solar #projects #execution
